ABP, the largest pension fund in the Netherlands, is holding exploratory talks with Dutch pension fund Cordares about a merger that would result in one of the world's largest collective schemes managing EUR 245 bn for almost four million members.
ABP, the largest pension fund in the Netherlands, is holding exploratory talks with Dutch pension fund Cordares about a merger that would result in one of the world's largest collective schemes managing EUR 245 bn for almost four million members.
Research by PropertyNL, the sister publication of PropertyEU, shows that ABP invested EUR 24.4 bn in real estate last year, while Cordares invested EUR 850 mln in the sector. ABP, the Dutch civil service and teachers pension fund, has total pension capital of EUR 220 bn. Cordares manages EUR 26.5 bn in pension funds for the Dutch construction sector.
ABP is working towards splitting its operations into an investment fund and an administration organisation by March next year. 'Through close cooperation, both parties wish to realise a further professionalisation of their services for their members and a better competitive position in the Dutch and international pension and asset management markets through economies of scale, ABP said in a statement.
